Cough Cold And Allergy Hay Fever Remedies In Mexico Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 194.60 Million |
| Market Size (2029) | USD 241.60 Million |
| CAGR (2024 - 2029) | 4.42 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Cough Cold And Allergy Hay Fever Remedies In Mexico Market Analysis
The Cough Cold And Allergy Hay Fever Remedies In Mexico Market size is estimated at USD 194.60 million in 2024, and is expected to reach USD 241.60 million by 2029, growing at a CAGR of 4.42% during the forecast period (2024-2029).
The factors driving the market growth include the increasing prevalence of allergic rhinitis and rising awareness about allergies, among others.
Furthermore, factors such as the expanding pharmaceutical market, rise in the aging population, seasonal variations in the country, increased access to healthcare, and rising online sales of cold, cough, and allergy medications due to convenience and accessibility are anticipated to accelerate the market growth over the forecast period.
The huge prevalence of allergic rhinitis in Mexico is anticipated to drive market growth over the forecast period. For instance, according to a study published in Aerobiology in September 2023, allergic rhinitis was found to be 19.6% of the open population in Mexico City. In addition, allergic rhinitis in the pediatric population ranges from 11.3% to 15%. Therefore, the huge prevalence of allergic rhinitis is anticipated to increase the demand for allergic rhinitis therapeutics, driving market growth.
Furthermore, the rising awareness from the Government of Mexico on allergies is anticipated to drive market growth due to the greater demand for over-the-counter (OTC) and prescription medications for allergies. For instance, in February 2023, the Ministry of Health of the government of Mexico City invited the country's population, urging them to take proactive measures to prevent allergies and other respiratory diseases. Therefore, the rising awareness on allergies is anticipated to increase the demand for OTC and prescription medicines of allergies, contributing the market growth.
Therefore, factors such as the rising incidence of allergic hay fever and the increased awareness on allergy treatments are the factors anticipated to drive the market growth over the forecast period. However, side effects associated with allergic rhinitis treatments are anticipated to hamper the market growth.
Cough Cold And Allergy Hay Fever Remedies In Mexico Market Trends
Corticosteroid Segment is Anticipated to Hold a Significant Share in the Market Over the Forecast Period.
The factors driving the segment growth include the rising incidence of allergic rhinitis in the country, as intra-nasal corticosteroids are used as the first-line treatment for allergic rhinitis.
Allergy is a common condition that develops in a person when he comes across the body different types of allergens such as dust, pollen, some foods, and medicines. This results in the generation of inflammatory mechanisms in response and causes the skin, paranasal sinuses, respiratory tract, or digestive system to become inflamed. Allergies sometimes cause symptoms in the nose and/or eyes, resulting in allergic rhinitis (hay fever) and/or conjunctivitis.
The rising incidence of allergies and allergy treatments in Mexico is anticipated to drive segment growth in the country. For instance, according to the Panorama del Asma en el Estado de México Report March 2023, the Department of Immunogenetics and Allergy Research pointed out that allergic rhinitis accounts for 33% of the total number of allergy cases that were treated in 2022. Such a huge prevalence and treatment of allergic rhinitis might have led to increased adoption of intran nasal corticosteroids in Mexico, thereby driving market growth.
Furthermore, the rising adoption of corticosteroids for the treatment of allergic rhinitis in the country is anticipated to boost the segment growth. For instance, according to the study published in World Allergy Organization Journal in June 2024, the general physicians in Mexico recommended allergic rhinits-intranasal corticosteroid durations average was 8.3 week in the country. The recommendations from general physicians on the use of corticosteroids increases their adoption, thereby anticipated to propel the segment growth.
Hence, the rising incidence of allergies in the country along with the recommendation on the adoption of corticosteroids for allergic rhinitis are the factors anticipated to increase the adoption of corticosteroid drugs propelling the segment growth.
Hospital Pharmacies Segment is Expected to Show Significant Share over the Forecast Period.
The hospital pharmacies segment is anticipated to show a significant share in the cough, cold, allergy, and hay fever remedies in the Mexico market due to the rising number of hospitals, which in turn increases the number of hospital pharmacies.
The rising number of hospitals in Mexico is anticipated to drive the growth of the segment due to the increased adoption of cold cough and allergy hay fever remedies from hospital pharmacies. For instance, according to the Government of Mexico, there were 4,573 general hospitals in 2023. Furthermore, in May 2022, the government plans to complete the establishment of 2,500 health centers and 92 hospitals between 2022 and 2024. Therefore, the rising number of hospitals, in turn, increases hospital pharmacies, boosting the segment growth.
Furthermore, the increasing prevalence of asthma in the country is expected to drive demand for the studied segment. This rise is due to more hospital admissions of asthma patients, which in turn boosts the use of hospital pharmacies for cough and asthma medications. For example, according to a 2023 report by the Government of Mexico, the number of asthma patients living in Mexico were 8.5 million in 2023.Therefore, the high number asthma cases are anticipated to increase the adoption of asthma therapies for patients suffering from severe asthma as alergic asthma is most common form of asthma, boosting the segment growth.
Therefore, the rising number of hospitals leads to increase in hospital pharmacies,also the increasing burden of different allergy and targeted disease, are anticipated to drive the segment growth.
Cough Cold And Allergy Hay Fever Remedies In Mexico Industry Overview
The market for cough, cold, and allergy hay fever remedies in Mexico is semi-consolidated with major players holding a significant share. The factors owing to the competition include the key strategies adopted by the market players, such as the collaborations among the the key market players to distribute medicines in Mexico. Some of the players operating in the market include Novartis AG, GlaxoSmithKline Plc, Sanofi-Aventis, Johnson & Johnson, and AbbVie Inc, among others.
Cough Cold And Allergy Hay Fever Remedies In Mexico Market Leaders
-
Sanofi-Aventis
-
Novartis AG
-
GlaxoSmithKline Plc
-
Johnson & Johnson
-
AbbVie Inc
*Disclaimer: Major Players sorted in no particular order
Cough Cold And Allergy Hay Fever Remedies In Mexico Market News
- June 2024: The Federal Commission for the Protection against Sanitary Risks (COFEPRIS) in Mexico has approved the sanitary registration of olopatadine tablets, a new molecule designed for treating allergic rhinitis in adults. Olopatadine tablets offer a novel alternative to existing antihistamines.
- August 2023: M8 Pharmaceuticals received market approval for Carragelose nasal spray in Mexico. The product, marketed as Barlo, is scheduled for launch in the upcoming season, and the high-potential Mexican OTC (over-the-counter) cough and cold market offers significant revenue opportunities for Carragelose.
Cough Cold And Allergy Hay Fever Remedies In Mexico Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Burden of Allergic Conditions and Seasonal Variation
4.2.2 Growing Awareness for Treatment of Allegeries and Product Launch
4.3 Market Restraints
4.3.1 Side Effects Associated with Allergic Rhinitis Treatments
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Drug Class
5.1.1 Corticosteroids
5.1.2 Antihistamines
5.1.3 Decongestants
5.1.4 Other Drug Classes (Expectorants, Cough Suppressants, Mucolytics and Others))
5.2 By End-User
5.2.1 Hospital Pharmacies
5.2.2 Retail Pharmacies
5.2.3 Online Drug Stores
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Sanofi-Aventis
6.1.2 Johnson & Johnson
6.1.3 Novartis AG
6.1.4 GlaxoSmithKline Plc
6.1.5 AbbVie Inc
6.1.6 Teva Pharmaceutical Industries Ltd.
6.1.7 NicOx
6.1.8 Bausch Health
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Cough Cold And Allergy Hay Fever Remedies In Mexico Industry Segmentation
An allergy occurs when a person reacts to substances called allergens in the environment. The allergens are found in dust mites, pets, pollen, insects, ticks, molds, foods, and some medications. An allergic hay fever accompanies symptoms such as cough and cold. The cough, cold, and allergy hay fever remedies in the Mexico market are segmented by drug class and end-ser. By drug class, the market is segmented into corticosteroids, antihistamines, decongestants, and other drug classes. By end-user, the market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The report offers the value (in USD) for the above-mentioned segments.
| By Drug Class | |
| Corticosteroids | |
| Antihistamines | |
| Decongestants | |
| Other Drug Classes (Expectorants, Cough Suppressants, Mucolytics and Others)) |
| By End-User | |
| Hospital Pharmacies | |
| Retail Pharmacies | |
| Online Drug Stores |
Cough Cold And Allergy Hay Fever Remedies In Mexico Market Research FAQs
How big is the Cough Cold And Allergy Hay Fever Remedies In Mexico Market?
The Cough Cold And Allergy Hay Fever Remedies In Mexico Market size is expected to reach USD 194.60 million in 2024 and grow at a CAGR of 4.42% to reach USD 241.60 million by 2029.
What is the current Cough Cold And Allergy Hay Fever Remedies In Mexico Market size?
In 2024, the Cough Cold And Allergy Hay Fever Remedies In Mexico Market size is expected to reach USD 194.60 million.
Who are the key players in Cough Cold And Allergy Hay Fever Remedies In Mexico Market?
Sanofi-Aventis, Novartis AG, GlaxoSmithKline Plc, Johnson & Johnson and AbbVie Inc are the major companies operating in the Cough Cold And Allergy Hay Fever Remedies In Mexico Market.
What years does this Cough Cold And Allergy Hay Fever Remedies In Mexico Market cover, and what was the market size in 2023?
In 2023, the Cough Cold And Allergy Hay Fever Remedies In Mexico Market size was estimated at USD 186.00 million. The report covers the Cough Cold And Allergy Hay Fever Remedies In Mexico Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Cough Cold And Allergy Hay Fever Remedies In Mexico Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Cough Cold And Allergy Hay Fever Remedies In Mexico Industry Report
Statistics for the 2024 Cough Cold And Allergy Hay Fever Remedies In Mexico market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cough Cold And Allergy Hay Fever Remedies In Mexico analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
